I am linking here to an interesting article from the ABA Journal last week pointing out that a lawyer’s reputation is much like your savings account-add a little to it each year and it can make you rich over time. I like this framework of reputation for two reasons: One, it suggests that a good reputation is worth money in the bank. We know anecdotally and from laboratory studies that this is true. Second, the idea of savings in a bank account is a great analogy in terms of reminding lawyers that every little thing they do can help or hurt that reputation. It’s not just the end of year bonuses that add to your savings, it’s the monthly deposits as well. Similarly, it’s not just the grand gestures in large negotiations that make your reputation, it’s how you act on a daily basis with your counterparts Although the book referred to in the ABA Journal is for young lawyers, I think this provides good advice all around!
Cross posted on Indisputably.